Techno-Economic Analysis of BEVs with Fast Charging Infrastructure: Preprint

Battery electric vehicles (BEVs) offer the potential to reduce both oil imports and greenhouse gas emissions, but high upfront costs, battery-limited vehicle range, and concern over high battery replacement costs may discourage many potential purchasers. One proposed solution is to employ a subscription model under which a service provider assumes ownership of the battery while providing access to vast fast charging infrastructure. Thus, high upfront and subsequent battery replacement costs are replaced by a predictable monthly fee, and battery-limited range is replaced by a larger infrastructure-limited range. Assessing the costs and benefits of such a proposal are complicated by many factors, including customer drive patterns, the amount of required infrastructure, and battery life. Herein the National Renewable Energy Laboratory applies its Battery Ownership Model to address these challenges and compare the economics and utility of a BEV fast charging service plan to a traditional direct ownership option. In single vehicle households, where such a service is most valuable, we find that operating a BEV under a fast charge service plan can be more cost-effective than direct ownership of a BEV, but it is rarely more cost-effective than direct ownership of a conventional vehicle.